ICE & Cetip develop fixed income trading platform for Brazilian bonds
First Published 26th April 2012
IntercontinentalExchange and Cetip enter agreement to develop Brazilian debt trading platform
Luiz Fernando Fleury, CEO, Cetip
"The choice to select ICE came not only from the fact that they are a globally recognized company, but also because of their outstanding technology and OTC market expertise."
Atlanta - Intercontinental Exchange has announced the completion of an agreement with Cetip, S.A. (BOVESPA: CTIP3) to develop and deliver a new fixed income trading platform to be offered by Cetip for Brazilian corporate and government bonds.
The platform is expected to be launched in the second half of 2012. Cetip is responsible for product strategy and the promotion of usage in Brazil. ICE is developing the technology.
"ICE is pleased to deepen our relationship with Cetip and build on our presence in Brazil," said ICE Chief Strategic Officer David S. Goone. "Through this partnership we are combining Cetip's leadership in fixed income markets together with ICE's technology and experience in building liquid, transparent markets to bring more liquidity and depth to the bond markets in Brazil."
Cetip CEO Luiz Fernando Fleury said, "The choice to select ICE came not only from the fact that they are a globally recognized company, but also because of their outstanding technology and OTC market expertise. A major reason for this partnership is ICE's demonstrated ability to successfully deliver liquidity and pricing transparency in other less liquid markets, similar to the scenario we currently have with our local corporate debt. The speed with which they can deliver the product to our market was another key factor."